British Airways Pensions Investment Management Ltd decreased its stake in shares of Martin Marietta Materials Inc. (NYSE:MLM) by 40.2% during the second quarter, Holdings Channel reports. The fund owned 102,310 shares of the company’s stock after selling 68,800 shares during the period. British Airways Pensions Investment Management Ltd’s holdings in Martin Marietta Materials were worth $19,721,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MLM. Norges Bank bought a new stake in shares of Martin Marietta Materials during the fourth quarter worth about $72,427,000. Chevy Chase Trust Holdings Inc. increased its stake in shares of Martin Marietta Materials by 1.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 58,109 shares of the company’s stock worth $9,269,000 after buying an additional 797 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Martin Marietta Materials by 13.8% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 10,037 shares of the company’s stock worth $1,601,000 after buying an additional 1,219 shares in the last quarter. Exxonmobil Investment Management Inc. TX increased its stake in shares of Martin Marietta Materials by 5.7% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 15,663 shares of the company’s stock worth $2,498,000 after buying an additional 838 shares in the last quarter. Finally, Douglas Lane & Associates LLC bought a new stake in shares of Martin Marietta Materials during the first quarter worth about $720,000. Hedge funds and other institutional investors own 97.18% of the company’s stock.

Martin Marietta Materials Inc. (NYSE:MLM) traded up 2.37% during trading on Wednesday, hitting $178.91. 726,529 shares of the company were exchanged. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 31.87 and a beta of 1.37. The stock’s 50-day moving average is $188.49 and its 200-day moving average is $181.12. Martin Marietta Materials Inc. has a 12 month low of $108.31 and a 12 month high of $206.36.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.90 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.02 by $0.12. Martin Marietta Materials had a return on equity of 9.36% and a net margin of 9.96%. The firm had revenue of $915.40 million for the quarter, compared to analyst estimates of $953.30 million. During the same quarter in the previous year, the business posted $1.22 earnings per share. Martin Marietta Materials’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities research analysts anticipate that Martin Marietta Materials Inc. will post $7.23 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 1st will be given a dividend of $0.42 per share. This is a boost from Martin Marietta Materials’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Tuesday, August 30th. Martin Marietta Materials’s dividend payout ratio (DPR) is presently 30.05%.

A number of brokerages have issued reports on MLM. Jefferies Group reiterated a “hold” rating on shares of Martin Marietta Materials in a report on Monday, August 1st. Zacks Investment Research downgraded shares of Martin Marietta Materials from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 19th. DA Davidson boosted their target price on shares of Martin Marietta Materials from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Alembic Global Advisors assumed coverage on shares of Martin Marietta Materials in a report on Thursday, June 9th. They issued an “overweight” rating and a $220.00 target price on the stock. Finally, Goldman Sachs Group Inc. restated a “buy” rating and issued a $209.00 target price (up from $191.00) on shares of Martin Marietta Materials in a report on Wednesday, June 8th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Martin Marietta Materials has an average rating of “Buy” and a consensus target price of $201.86.

In related news, EVP Roselyn R. Bar sold 5,830 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $199.98, for a total transaction of $1,165,883.40. Following the completion of the sale, the executive vice president now directly owns 42,588 shares in the company, valued at $8,516,748.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David G. Maffucci sold 6,779 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $199.90, for a total transaction of $1,355,122.10. Following the sale, the director now owns 20,326 shares of the company’s stock, valued at $4,063,167.40. The disclosure for this sale can be found here. Corporate insiders own 1.06% of the company’s stock.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand and gravel) for the construction industry, used for the construction of infrastructure, non-residential, and residential projects. The Company operates through three businesses: Aggregates Business, Cement Business and Magnesia Specialties Business.

5 Day Chart for NYSE:MLM

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